The European Bank for Reconstruction and Development (EBRD) announced that it is set to provide a €25 million loan to Türkiye’s Polinas Plastik.
The EBRD is providing the loan to bankroll the company’s capex investments, which include resource and energy efficiency measures in the production line and solar panels.
The EBRD funds will be used to install and support a new production line for biaxially oriented polypropylene (BOPP) film, acquire new machinery, and invest in solar panels.
The project will help Polinas cut its carbon emissions by enhancing its use of renewable energy and increasing the production of fully recyclable packaging, which will incorporate recycled and bio-based materials.
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As climate concerns gain importance, the flexible plastic packaging industry is experiencing a growing demand for materials that are recyclable and contain recycled content. Brands are particularly focused on reducing their packaging’s carbon footprint.
Polinas is a significant regional player, with exports reaching over 50 countries.
The company specializes in producing BOPP (biaxially oriented polypropylene), BOPET (biaxially oriented polyethylene terephthalate), and other films primarily for the food sector.
These films are crucial for ensuring food safety by safeguarding products throughout the supply chain.
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In alignment with its environmental goals, the loan will also enhance Polinas’ commitment to diversity and inclusion. It aims to increase the participation of women in manufacturing, a sector where their involvement currently stands at around 27%.
Polinas is 99% owned by Gözde Girişim, the private equity branch of Yıldız Holding.
The EBRD, a significant investor in Türkiye, has contributed over €20 billion through 450 projects and trade finance initiatives since 2009, predominantly within the private sector.